Mount Yale Investment Advisors LLC Makes New $308,000 Investment in Teck Resources Limited (NYSE:TECK)

Mount Yale Investment Advisors LLC acquired a new position in shares of Teck Resources Limited (NYSE:TECK) (TSE:TECK) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,731 shares of the basic materials company’s stock, valued at approximately $308,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its position in Teck Resources by 143.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 656 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 386 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in Teck Resources during the 4th quarter worth approximately $35,000. Optiver Holding B.V. raised its stake in Teck Resources by 81.9% during the 4th quarter. Optiver Holding B.V. now owns 973 shares of the basic materials company’s stock worth $41,000 after buying an additional 438 shares during the period. First Horizon Advisors Inc. raised its stake in Teck Resources by 69.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,162 shares of the basic materials company’s stock worth $49,000 after buying an additional 476 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Teck Resources by 187.3% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 974 shares during the last quarter. Institutional investors own 78.06% of the company’s stock.

Teck Resources Price Performance

Teck Resources stock traded up $0.08 during mid-day trading on Monday, hitting $47.53. The stock had a trading volume of 3,384,810 shares, compared to its average volume of 3,650,308. The firm has a market capitalization of $24.28 billion, a P/E ratio of 20.88, a P/E/G ratio of 11.28 and a beta of 1.05. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $49.07 and its 200 day moving average is $45.46. Teck Resources Limited has a one year low of $34.38 and a one year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.47 by $0.32. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Teck Resources had a net margin of 9.40% and a return on equity of 6.52%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. On average, sell-side analysts forecast that Teck Resources Limited will post 2.03 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.26%. This is a boost from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, September 13th. Teck Resources’s dividend payout ratio is currently 16.37%.

Analyst Ratings Changes

TECK has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Teck Resources from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley raised their price target on Teck Resources from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, June 21st. TD Securities upgraded Teck Resources to a “strong-buy” rating in a research report on Tuesday, July 16th. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Teck Resources in a research report on Thursday. Finally, CIBC raised their price target on Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.40.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.